Abstract: In this study, the inclusion complexes of lycopene with β-cyclodextrin (β-CD) were preparedby the precipitation method. Then the inclusion complexes were characterized by the scanningelectron microscopy (SEM), ultraviolet-visible spectroscopy (UV), microscopic observation, liquidchromatography, differential scanning calorimetry (DSC) and phase-solubility study. Moreover,the stability and antioxidant activity were tested. The results showed that lycopene was embedded intothe cavity of β-CD with a 1:1 stoichiometry. Moreover, the thermal and irradiant stabilities of lycopenewere all significantly increased by the formation of lycopene/β-CD inclusion complexes. Antioxidantproperties of lycopene and its inclusion complexes were evaluated on the basis of measuring thescavenging activity for 1,1-diphenyl-2-picrylhydrazyl (DPPH), hydroxyl and superoxide anionradicals. The results showed that the scavenging activity of DPPH radicals was obviously increasedby the formation of the inclusion complex with β-cyclodextrin at concentrations of 5–30 μg/mL,however, some significant positive effects on the scavenging activity of hydroxyl and superoxideanion radicals were not observed and the reasons are worth further study